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China is cracking down on the wealthy, setting up tax teams to figuratively (maybe literally) turn rich people upside down and shake them until the renminbi flies out of their pockets.
China’s Tax Crackdown Squeezes Billionaires Harder Than Ever – Bloomberg
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A truly bipartisan issue. Most Republicans, Governor Newsom, Planned Parenthood and the California Teachers Association are all against higher taxes on California billionaires.
They might support it at the national level, Newsom has said so. And interestingly, the only issue that Kamala Harris really achieved traction on in 2024 was on raising taxes for the wealthy.
Top Democrats join the wealthiest in fighting a California tax increase on billionaires
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